Common use of Cancellation of Benefit Service Clause in Contracts

Cancellation of Benefit Service. If this Plan is a defined benefit plan and if the Participant's vested percentage is determined under this Appendix and if a Participant receives a lump sum distribution of the present value of the vested portion of his accrued benefit, the Plan shall: (a) thereafter disregard the Participant's service with respect to which he received such distribution in determining his accrued benefit, and (b) permit the Participant who receives a distribution of less than the present value of his entire accrued benefit to restore this service by repaying (after returning to employment covered under the Plan) to the trustee the amount of such distribution together with interest at the interest rate of five percent (5%) per annum compounded annually (or such other interest rate as is provided by law for such repayment). If the distribution was on account of separation from service such repayment must be made before the earlier of, (i) five (5) years after the first date on which the Participant is subsequently reemployed by the employer, or (ii) the close of the first period of five (5) consecutive one-year breaks in service commencing after the distribution. If the distribution was on account of any other reason, such repayment must be made within five (5) years after the date of the distribution.

Cancellation of Benefit Service. If this Plan is a defined benefit plan and if the Participant's ’s vested percentage is determined under this Appendix and if a Participant receives a lump sum distribution of the present value of the vested portion of his accrued benefit, the Plan shall: (a) thereafter Thereafter disregard the Participant's ’s service with respect to which he or she received such distribution in determining his accrued benefit, and (b) permit Permit the Participant who receives a distribution of less than the present value of his entire accrued benefit to restore this service by repaying (after returning to employment covered under the Plan) to the trustee the amount of such distribution together with interest at the interest rate of five percent (5%) per annum compounded annually (or such other interest rate as is provided by law for such repayment). If the distribution was on account of separation from service such repayment must be made before the earlier of, (i1) five Five (5) years after the first date on which the Participant is subsequently reemployed by the employer, or (ii2) the The close of the first period of five (5) consecutive one-year breaks in service commencing after the distribution. If the distribution was on account of any other reason, such repayment must be made within five (5) years after the date of the distribution.

Cancellation of Benefit Service. If this Plan is a defined benefit plan and if the Participant's ’s vested percentage is determined under this Appendix and if a Participant receives a lump sum distribution of the present value of the vested portion of his accrued benefit, the Plan shall: (a) thereafter disregard the Participant's ’s service with respect to which he received such distribution in determining his accrued benefit, and (b) permit the Participant who receives a distribution of less than the present value of his entire accrued benefit to restore this service by repaying (after returning to employment covered under the Plan) to the trustee the amount of such distribution together with interest at the interest rate of five percent (5%) per annum compounded annually (or such other interest rate as is provided by law for such repayment). If the distribution was on account of separation severance from service employment such repayment must be made before the earlier of, (i) five (5) years after the first date on which the Participant is subsequently reemployed by the employer, or (ii) the close of the first period of five (5) consecutive one-year one‑year breaks in service commencing after the distribution. If the distribution was on account of any other reason, such repayment must be made within five (5) years after the date of the distribution.